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>> the tax problem is the biggest problem. president obama has laid out in the past and seen willing to me, at least, to make some cuts to medicare. maybe not ones conservatives like. what we don't know yet, the big question is, president obama is pushing for $1 trillion in tax increases, pushing it for a long time. he feels he has a mandate on that now. we know his idea is about raising revenue. we don't know what the republicans ideas are on the revenue. that's what we need to know. that's the whole question, what are they. go ahead. >> we've heard from lindsey graham yesterday or the day before with regards to revenue. he still contends, ari, that you can raise a significant chunk of revenue, he's thrown out $800 billion at least by closing loopholes and limiting deductions, whether it's $30,000, $40,000, $50,000. >> yeah, but he's just talking, right? just talking. what the president has done is outlined a plan. he outlined it once and the american people voted for it, and he outlined it again, not surprisingly, the same c
>> the tax problem is the biggest problem. president obama has laid out in the past and seen willing to me, at least, to make some cuts to medicare. maybe not ones conservatives like. what we don't know yet, the big question is, president obama is pushing for $1 trillion in tax increases, pushing it for a long time. he feels he has a mandate on that now. we know his idea is about raising revenue. we don't know what the republicans ideas are on the revenue. that's what we need to know....
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Dec 1, 2012
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we'll see hikes in taxs and sales tax increases and more worse is bankruptcies. we see that in stockton and san bernardino. we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the problem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they will not support it it was a nonstarter and never going to work in the stave . you have a better chance of succeeding. >> at least it was a plan . it is no law that said you cannot change 401 k's. that is future and new hires and for their plans. you don't have ill defined benefits and by the way the private sector doesn't get. there is a pension liability in the state of the california. vicki is right. government services are starting to get cut in cities in california . so i tell you, it doesn't cut it when you have things like let's raise the retirement age to age 52. >> the fact is
we'll see hikes in taxs and sales tax increases and more worse is bankruptcies. we see that in stockton and san bernardino. we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the problem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they...
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Dec 6, 2012
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they're going to raise tax rates. then you say that to boehner's office. no, no. that's not true. >> right. meanwhile the american people are rolling their eyes and not paying attention to any of this. >> look, the stock market has been -- it's been a little troubling for the last three weeks or so. but absolutely. this is like total washington style political posturing. in the end will they get a deal? absolutely. they always get a deal. >> but the question is, is it a small deal or a big deal? >> well sure. >> and that is where i'm a pessimist on i think the smallest possible -- >> yeah. temporary. >> small as possible. >> they'll tackle it next year. >> because there is so much left on the table. we have the debt ceiling, one area where republicans really do have their leverage, you know, that is coming up, too. it's got to be a small deal. >> what is the debt ceiling leverage? i say it this way. okay. you've got leverage but if you use it, the entire -- the popularity rating of the party is going to tank. >> i was
they're going to raise tax rates. then you say that to boehner's office. no, no. that's not true. >> right. meanwhile the american people are rolling their eyes and not paying attention to any of this. >> look, the stock market has been -- it's been a little troubling for the last three weeks or so. but absolutely. this is like total washington style political posturing. in the end will they get a deal? absolutely. they always get a deal. >> but the question is, is it a small...
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. >> sean: same with value added tax after eliminating the fair tax is good, each one is progressive, the more you make, the more you spend. >> people get a flat tax. fair share, think flat tack. i'm starting to see forbes about it and listen this is what we ought to be doing. >> sean: where is the president? why the constant campaign? after every election there's a period when things can get den, good things. i was saying this to bob woodward, one in six in poverty, 50 million on food stamps this is not a time to play games this is a time to get this country out of the fiscal mess it is in, live within our means that means really doing big things, touching entitlements saving them from bankruptcy. campaigning in pennsylvania using class warfare. >> it is more egregious when you know we've had four deaths in libya. what happened how can we avoid that mistake in the future? when you go around the country and texas and people are hurting and struggling and it is breaking their heart to make ends meet and you know we have more energy than anybody in the world and not using it. >> sean: i
. >> sean: same with value added tax after eliminating the fair tax is good, each one is progressive, the more you make, the more you spend. >> people get a flat tax. fair share, think flat tack. i'm starting to see forbes about it and listen this is what we ought to be doing. >> sean: where is the president? why the constant campaign? after every election there's a period when things can get den, good things. i was saying this to bob woodward, one in six in poverty, 50...
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Dec 5, 2012
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tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in trouble. once the holidays ends, things can get a whole lot worse. not just the fiscal cliff. two weeks ago aggregate retail sales that showed a 3% decline. last friday's gdp indicated that growth and personal consumption decelerated to 1.4%. these are not encouraging numbers. incomes are flat and hurricane sandy shut down the northeast wealthiest parts of the country, for days and in some cases for weeks. even though we have had positive numbers from companies like home depot and lowes, you think it would be from the proverbial -- >> the house of fame. >> or at least the group flat lining. get that? isn't happenin
tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in...
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Dec 6, 2012
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nobody even knew what the alternative minimum tax was 8, 9 years ago. now more and more americans, millions are susceptible to it. if you have to patch it for another year, i would hope to get a final solution to that situation very, very shortly because we cannot have that anxiety hanging over folks as they go to pay their taxes in february and march of next year. >> absolutely. another issue, i guess, that is seen as a complication but one that must be addressed the president says, the debt ceiling. i want to play what senator mcconnell has said regarding the president and the portion of his proposal that included the debt ceiling. let's play it. >> the last person who should have limitless borrowing power. look, the only way we cut spending around here is by using the debate over the debt limit to do it. >> i bet you don't agree with that? >> i don't agree with that. we've seen what happens. we've been brought to the brink and don't want to go back to 1995 when the folks walked out and government was shut down. what did we accomplish? i think even mr
nobody even knew what the alternative minimum tax was 8, 9 years ago. now more and more americans, millions are susceptible to it. if you have to patch it for another year, i would hope to get a final solution to that situation very, very shortly because we cannot have that anxiety hanging over folks as they go to pay their taxes in february and march of next year. >> absolutely. another issue, i guess, that is seen as a complication but one that must be addressed the president says, the...
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Dec 6, 2012
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tax cuts. are they willing to limit unemployment insurance, give up infrastructure spending, which is something the president has been talking about from the beginning, payroll tax cut. what's the white house plan here? >> well, alan simpson in addition to being an excellent dancer is a very shrewd political analyst. >> very hip, alan simpson. >> very, very, very good dancer recently. but, look, i think people talk in terms of political advantage and clearly the president is going to gain more political advantage from going off the cliff than the republicans are going to. that's where the polls are showing. that's clearly where there is going. that doesn't mean it's a good idea for the country or economically. the country is are they looking at their own political interests or do they actually want to make sure the economy stays out of recession here. this is a very dangerous game that we're playing with over the next four weeks. >> i want to bring in congressman tom price, a republican from ge
tax cuts. are they willing to limit unemployment insurance, give up infrastructure spending, which is something the president has been talking about from the beginning, payroll tax cut. what's the white house plan here? >> well, alan simpson in addition to being an excellent dancer is a very shrewd political analyst. >> very hip, alan simpson. >> very, very, very good dancer recently. but, look, i think people talk in terms of political advantage and clearly the president is...
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Nov 29, 2012
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credits and tax inclusions in a major tax reform package. the gang of six that i was a part of, still a part of, followed that recommendation. we think you ought to eliminate all of that. that will generate about $1.2 trillion in revenue. not new taxes. revenue. then you decide whether you're going to add the mortgage interest deduction, charitable deduction, other things back in there. so the question is, what do you do with that revenue that's been generated? we owe $16 trillion. i think that you got to pay part of that revenue toward that debt just like every single american that owns a home pays part of their monthly revenue toward their mortgage debt. it's exactly the same thing. the problem that grover and i have, he says if you do that, that's a tax increase, because the rest of it is going to go to lowering tax rates, and that's not 100% going to lowering tax rates. >> sean: if you're talking about $1.1 trillion or $1.2 trillion in revenue, that's raising taxes. people will pay more. when people pay more -- >> no. >> sean: they're no
credits and tax inclusions in a major tax reform package. the gang of six that i was a part of, still a part of, followed that recommendation. we think you ought to eliminate all of that. that will generate about $1.2 trillion in revenue. not new taxes. revenue. then you decide whether you're going to add the mortgage interest deduction, charitable deduction, other things back in there. so the question is, what do you do with that revenue that's been generated? we owe $16 trillion. i think that...
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Dec 1, 2012
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who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell which have become increasingly commodized. just witness hideous performance of best buy. despite all these big perceived big picture, office max has been rallying like crazy. stock has run up 122% for year. and it's fallen from 4.26 from the beginning of august to nearly $10. right now where the stock is less than a point off its 52-week high. what the heck, right? five months ago this stock had been left for dead. but now somehow office max has managed to find new life and become a monster good performer. just when you expect the company to be take it on the chin. what the heck is really happening at this company? could it be that perhaps we're simply wrong about the sector? maybe t
who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell which have become increasingly commodized. just witness hideous performance of best buy....
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Dec 7, 2012
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taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one, we are talking about federal taxation. if you want to have a argument with your county or city government, new york city and westchester county or long island go have it. >> you are not answering. >> but if you are talking about federal tax, right i'm saying to you i between between 35 and 39 is totally good. >> but that's not addressing it. wait a second. this is not a small issue. after somebody pace their federal, their state, their social security, their property, their car tax, their sales tax, after they are done giving the government their fair share, state, local, federal, what is fair? give me a
taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one,...
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Dec 6, 2012
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you want to talk about paying taxes and your fair share? they're a tax-exempt 501c5 organization. where is ed asner's rage about their escaping and evading their fair share of taxes? i don't hear it. also, let's have a balance. if they're going to show this in the california classrooms, how about an eight-minute video narrated by clint eastwood or my favorite right thinking actor adam baldwin that exposes the truth about occupy and the teachers alliance? they have to make up this urinating image? well, you've got occupiers who have been pooping on police cars. show that to the school kids. >> sean: well said. michelle malkin. great points. thank you for being with us. >> you bet, take care. >>> >> sean: coming up next, liz cheney on the breaking news out of syria. the government stands ready to use sarin nerve gas on its own people. a senior firm confirmed this to fox news. >>> women in egypt are fearing for their lives as sex mobs are preying on the public. the situation is getting dispratt. where is the outrage and the support from the feminists who screamed about the so-called
you want to talk about paying taxes and your fair share? they're a tax-exempt 501c5 organization. where is ed asner's rage about their escaping and evading their fair share of taxes? i don't hear it. also, let's have a balance. if they're going to show this in the california classrooms, how about an eight-minute video narrated by clint eastwood or my favorite right thinking actor adam baldwin that exposes the truth about occupy and the teachers alliance? they have to make up this urinating...
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we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until the end of the year. but if the taxes go on, on capital gains and dividends, people will start to sell now to have the better, more preferential tax treatment than afterwards. we may see selling in first of the year. >> eric: long-term, think long-term. once we get past that. what will the effect be? what if taxes on dividends go up? >> this is incredible disincentive. especially on the capital gains. to take the risk of investing. when you say long-term, long-term, if you don't need the money you invest in stock market. if you need it in the next five years don't go near
we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until...
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Nov 29, 2012
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versus the 2013 tax code. we're glued each week to the jobless claims and they come out at 8:30 and right now they aren't going up or down and that's because business is frozen. if you're thinking about creating a business, you want to know if you sell it you get a good capital gains rate. if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every thursday as the claims spike because of mandated layoffs particularly in a military industrial complex. people will lose that right in 2013. and thousands of other companies are slimming down because, hey, we failed to rise above. when that happens, believe me, you'll want every bit of this mountain gear. you'll want the ice ax. man, we got to use this. this will no longer just be a key chain because if we're cl m climbing out of the cliff you need to be the first there and with the best stocks. i envision all segments of the m
versus the 2013 tax code. we're glued each week to the jobless claims and they come out at 8:30 and right now they aren't going up or down and that's because business is frozen. if you're thinking about creating a business, you want to know if you sell it you get a good capital gains rate. if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every...
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Nov 29, 2012
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we don't want to put both tax increases and entitlement cuts on the table. it's up to republicans and we'll come back with a counter. you can't force us to put an opening bid on entitlement cuts when we don't want any to begin with. and that's the movement. so i think even in public there's starting to be a little bit of moving and i think there is the ability for folks to get there. >> we do know pretty clearly i think that the white house thinks they have the upper hand. here is the president from his event yesterday. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. >> so he's got his outreach to middle class americans. we saw him meeting with business leaders. his event is planned for tomorrow. we campaign-like and he is still using the campaign actually, more than a million people responded to that survey that obama for america put out and said they're interested in volunteering. so is par
we don't want to put both tax increases and entitlement cuts on the table. it's up to republicans and we'll come back with a counter. you can't force us to put an opening bid on entitlement cuts when we don't want any to begin with. and that's the movement. so i think even in public there's starting to be a little bit of moving and i think there is the ability for folks to get there. >> we do know pretty clearly i think that the white house thinks they have the upper hand. here is the...
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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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Dec 5, 2012
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keep the rest of my taxes for me. schools, public safety, the roads, parks, libraries, public transportation, all went into decline. the rich people didn't care. they said everyone gets what they deserve. ordinary people wondered why rich people needed so much money. the 1% said don. this is good for you, too, because it will trickle down from us to you. >> urinating on people. classy image. doesn't get much worse than that. joining me with reaction, tucker carlson and kiersten powers from the daily beast. it goes on seven minutes long, kiersten, and i thought of past pop begapropaganda. at the end of this, somebody watches this, they get indoctrinated. they really begin to believe that rich people are evil. did you get that feeling? it was that bad to me. >> it was pretty bad. i have to say even i found it offensive. >> even i, yeah. >> yeah. no. look, it goes a little too far. i think you can certainly make an argument that there are rich people that are indifferent to poor people, but i don't think that you could s
keep the rest of my taxes for me. schools, public safety, the roads, parks, libraries, public transportation, all went into decline. the rich people didn't care. they said everyone gets what they deserve. ordinary people wondered why rich people needed so much money. the 1% said don. this is good for you, too, because it will trickle down from us to you. >> urinating on people. classy image. doesn't get much worse than that. joining me with reaction, tucker carlson and kiersten powers...
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Nov 30, 2012
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you may lose the tax deduction there. that will definitely hit the top percent of americans, and that's a concern because it's a lot of small business owners. >> let's talk about the other immensely popular deduction, and this is the mortgage deduction. >> this is a heated one. this is very heated. here's the thing. if you're looking at your interest that you're paying, up to a million dollars of that is deductible. second homes, the interest is deductible. home equity loans, the interest is deductedible. now, that's been around since the teens. the ability to do that. so here's the thing, though. only one in four homeowners actually take this deduction. >> really? >> yes. right. people aren't really surprised because most homeowners actually don't necessarily qualify for it because they don't pay enough in interest. >> or they don't itemize? >> they don't itemize, exactly. so at least 25% to 30% of those folks, however, make less than $100,000. so these folks will get very hit by this. if they can phase it in, that will
you may lose the tax deduction there. that will definitely hit the top percent of americans, and that's a concern because it's a lot of small business owners. >> let's talk about the other immensely popular deduction, and this is the mortgage deduction. >> this is a heated one. this is very heated. here's the thing. if you're looking at your interest that you're paying, up to a million dollars of that is deductible. second homes, the interest is deductible. home equity loans, the...
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Nov 30, 2012
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democrats bet republicans cave on taxes. how confident are democrats that they're going to win this thing, they'll make this happen. >> they feel like this looks like the 2011 payroll tax. remember at the time house republicans were not going to pass that extension to that payroll tax holiday, but they felt boxed in at the end of the day and they eventually had to do what the president wanted. democrats believe that they have the issue here, they have a bill that passed out of the senate. they think the house will adopt it. the republicans say there is just no way that's going to happen, that in order to get any sort of deal on revenue, democrats have to -- >>> have a fantastic weekend, gentlemen. coming up, we're following developing news from the supreme court where we're waiting to hear if the high court takes up several major challenges to same-sex marriage. plus -- >> i was positioning is that the right newspapers, is that the right numbers. and i was shaking. and i called my husband and i said i think i'm having a hear
democrats bet republicans cave on taxes. how confident are democrats that they're going to win this thing, they'll make this happen. >> they feel like this looks like the 2011 payroll tax. remember at the time house republicans were not going to pass that extension to that payroll tax holiday, but they felt boxed in at the end of the day and they eventually had to do what the president wanted. democrats believe that they have the issue here, they have a bill that passed out of the senate....
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all of the tax rates expire december 31st and we can deal with the tax breaks for the wealthiest most fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reduci
all of the tax rates expire december 31st and we can deal with the tax breaks for the wealthiest most fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take...
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Nov 30, 2012
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he wants to raise taxes now. and, by the way, he'll get back to us with how exactly he intends to cut spending later. that's why speaker of the house john boehner told reporters no substantive progress has been made. president obama has no interest in reducing the size of the federal government. now democrats before him he's dangling the prospect of future budget cuts in the hopes republicans will take the bait. with that in mind, it's important to remember the words of president ronald reagan, he wrote them in his own autobiography, and described in great deal a deal he struck with the democrats in 1980s, promising $3 in spending cuts for every dollar in a tax increase. reagan wrote, the democrats reneged on their pledge and we never got those cuts. perhaps that's why some on the right are calling foul on these negotiations. >> the only secret talks have revealed, a government that skips from one crisis to the next. all of this secrecy allows the president to petition himself frankly and being in favor of a bala
he wants to raise taxes now. and, by the way, he'll get back to us with how exactly he intends to cut spending later. that's why speaker of the house john boehner told reporters no substantive progress has been made. president obama has no interest in reducing the size of the federal government. now democrats before him he's dangling the prospect of future budget cuts in the hopes republicans will take the bait. with that in mind, it's important to remember the words of president ronald reagan,...
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it's taxes. taxes. okay, you can say taxes. when you separate taxes from revenue, we are going to raise revenue, not taxes, you get strange things, it seems. there's all sorts of privatization. take the highway, we are going to sell it to you. lease it back and get a one-time payment from that. this is something that's happening right now in baltimore that i think is pretty fascinating. take a look. >> i thought it was idiotic. why do we want to look like nascar? look like a bus going down the street. after the shock wore off, this shows how far we have to go to think outside of the box. >> reporter: chicago sold ad space on iconic bridges to bank of america. philadelphia rented out a transitation to at&t. brazil indiana let kfc advertise on fire hydrants. >> baltimore, in case that wasn't there, they are selling ad space on fire trucks. were you tempted? was there anything you were thinking of putting up on the auction block? >> we are not purists. you know, you see things get named from time-to-time. those are extremes. those
it's taxes. taxes. okay, you can say taxes. when you separate taxes from revenue, we are going to raise revenue, not taxes, you get strange things, it seems. there's all sorts of privatization. take the highway, we are going to sell it to you. lease it back and get a one-time payment from that. this is something that's happening right now in baltimore that i think is pretty fascinating. take a look. >> i thought it was idiotic. why do we want to look like nascar? look like a bus going...
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he spoke of the benefits of cutting taxes. president obama, i hope you're watching this. >> this can be the most important step we could take to prevent another recession. that is the right time to make tax cuts both for your family budget and the national budget. resulting from a permanent basic reform and reduction in our rate structure, a creative tax cut creating more jobs and income and eventually more revenue. it will include an across the the board top to bottom cut in both corporate and personal income taxes. the billions of dollars this bill will place in the hands of the consumer, and our businessmen, will have both immediate and permanent benefits to our economy. every dollar released from taxation that is spent or invested will help create a new job and a new salary and these new jobs and new salaries can create other jobs and other salaries. >> right. that is the message that president obama needs to hear. unfortunately, there's growing evidence to indicate that he's not interested in striking any deal at all. now
he spoke of the benefits of cutting taxes. president obama, i hope you're watching this. >> this can be the most important step we could take to prevent another recession. that is the right time to make tax cuts both for your family budget and the national budget. resulting from a permanent basic reform and reduction in our rate structure, a creative tax cut creating more jobs and income and eventually more revenue. it will include an across the the board top to bottom cut in both...
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Dec 1, 2012
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the president has been out there taxing dividend income. that's something that failed when the senate tried to do it and obviously trade bait and he didn't campaign on it and he doesn't feel strong about it. >> the escape is something a lot of folks are concerned about. >> he put it out there and it could be adjusted. once you get a range, you could strike it right down the middle. there's plenty to do there. it's the politics that are holding him back. if you put boehner and the president on a golf course and let them make a deal that is binding, i think they could do it in an afternoon. >> beth, "the new york times" reporting that the president would like to set an august 1st deadline. the plan would call for $600 billion in new revenue from revisions in the tax code. that's on top of nearly a fri trillion dollars raised on the bush tax cuts for the rich. is there support for both of these? >> both parties suggest it is a mess and too many exemptions and loopholes and that's just not, it's too complicated. it needs to be simpler and littl
the president has been out there taxing dividend income. that's something that failed when the senate tried to do it and obviously trade bait and he didn't campaign on it and he doesn't feel strong about it. >> the escape is something a lot of folks are concerned about. >> he put it out there and it could be adjusted. once you get a range, you could strike it right down the middle. there's plenty to do there. it's the politics that are holding him back. if you put boehner and the...
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Dec 2, 2012
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so, streamline the tax code, remove the entire income tax philosophy, fair tax or flat tax, can't do that now. but look at spending and spending cuts across the board and different programs where we can really cut some money, rather than talk about it, let's do something and do it next week and move it down to the senate and the let them look at it it. >> dave: so there's substance and also, style, congressman. how do you feel about the fact that the president, instead of sitting down with your leader john boehner is out there in what appears to be a campaign style, giving speeches instead of negotiating? >> well, it's disturbing in some respect. he is the leader of the country. and rather than be in washington d.c. in a room working with everybody involved that can make these decisions and push legislation, republicans, democrats, senators, members of house and talking through the knitty gritty, he proposes town and campaigns about it and it's difficult to communicate and talk about things if the president is not in washington to talk. >> dave: especially with roughly two weeks to g
so, streamline the tax code, remove the entire income tax philosophy, fair tax or flat tax, can't do that now. but look at spending and spending cuts across the board and different programs where we can really cut some money, rather than talk about it, let's do something and do it next week and move it down to the senate and the let them look at it it. >> dave: so there's substance and also, style, congressman. how do you feel about the fact that the president, instead of sitting down...
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Dec 7, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> first he supported and now he doesn't. we're talking about mitch mcconnell's legislation to avert defaulting on the nation's debt t would give the president greater power to raise the debt ceiling without approval, something the president wants. senator mcconnell brought up the legislation yesterday morning but by yesterday afternoon he was objecting. >> is there an objection? >> preserving the right to object matters of this controversy, what we're talking about is a perpetual debt ceiling grant in effect to the president. >> this morning, republican leader asked for consent on his proposal. just now i told everyone that we're willing to have that vote. up or down vote. and now
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> first he supported and now he doesn't. we're talking about mitch mcconnell's...
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tax rates for the top 2%. they've been as high as 90% in the great depression, so you really have to have perspective here. it's hard to see the republicans making this their sticking point. making this thing that that is the hill that they will die on, is not raising taxes on the top 2%. i think that karen is right, that the white house has everything to gain by keeping the president above this. and on the payroll tax thing, that worked. that employ worked and i think that they're planning on having this work out again. the president is the one making the case to people that his staff is dealing with boehnerth and i think that's the right psychological play and it's the right political negotiating play. >> anna marie cox and karen tumblety. stand by, we're going to talk about grover norquist. by the way, karen, happy belated birthday. >> thank you. >> i hear you celebrated, i heard there was a wild party in d.c. last night. thanks for the invite. >> quick note here, don't know what you're doing with your sund
tax rates for the top 2%. they've been as high as 90% in the great depression, so you really have to have perspective here. it's hard to see the republicans making this their sticking point. making this thing that that is the hill that they will die on, is not raising taxes on the top 2%. i think that karen is right, that the white house has everything to gain by keeping the president above this. and on the payroll tax thing, that worked. that employ worked and i think that they're planning on...
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Dec 4, 2012
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i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i can assure you, the president and democrats in congress, have consistently said, we're not going to do this -- there is no my way or the highway. we have concrete proposals and compromise on the table, thus far, though, we have republicans who are dug in inning there's no way they're -- insisting there's no way they're going to support increasing rates on the wealthiest americans. >> let me play for you what the president just said to bloomberg tv. >> entitlement reform, i don't expect republicans to agree to any plan where they're just [ inaudible ] that entitlement reform would happen. we have to have specific down payments now, recognizing we would have to continue to work to come up with better ideas to reduce health care costs over the long term. >> are you willing to work with the president to go up against aarp to b
i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i can assure you, the president and democrats in congress, have consistently said, we're not going to do this -- there is no my way or the highway. we have concrete proposals and compromise on the table, thus far, though, we have...
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Dec 1, 2012
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everybody here will see their taxes go up on january 1st. i am assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> president obama warning workers what would happen if congress does nothing to avert the impending fiscal cliff. the president was at the factory of kinex toys. let's get some insight on that visit from someone who was there. michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on americans earning $250,000 or more. most republicans remain dead set against the president's plan. >> that's true. i think, though, we have to take a look at th
everybody here will see their taxes go up on january 1st. i am assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> president obama warning workers what would happen if congress does nothing to avert the impending fiscal cliff. the president was at the factory of kinex toys. let's get some insight on that visit from someone who was there. michael is the president and ceo of kinex. >> good morning....
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Dec 1, 2012
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remember we're talking about 2013 taxes, not 2012 taxes. but if americans are taking out loans based on what their tax return is going to be in april maybe we should be talking about financial literacy and not about how budgeting works. >> we can but i'm just trying to tell you realistically that's how people are living their lives in the united states of america in the 21st century. so we need to be real about how people are living their lives. >> you know what, one thing i do want to talk about, i'll begin with you tony on this. i'm sure you saw that photo making the rounds this week of house committee chairmen? what is that all about. they're all white males. speaker boehner now said he was indeed appointing a female chair congresswoman, candice miller. this committee is in charge of things like the house cafeteria, expense accounts, benefits packages. sounds like a token appointment to a somewhat low-level position. >> look. speaking as a white male republican, wasn't really happy to see that. i want to see more women and more represent
remember we're talking about 2013 taxes, not 2012 taxes. but if americans are taking out loans based on what their tax return is going to be in april maybe we should be talking about financial literacy and not about how budgeting works. >> we can but i'm just trying to tell you realistically that's how people are living their lives in the united states of america in the 21st century. so we need to be real about how people are living their lives. >> you know what, one thing i do want...
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Nov 30, 2012
11/12
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. >>> with the fiscal cliff approaching, people worry about having to pay a higher tax rate, i get that, but when you can snag high-quality stocks that yield more than 5%, i'm all ears. that's one of the reasons i want to tell you about health care trust of america, a newly minted real estate trust that owns medical office buildings. hga is a very defensive stock. unlike retail reits, it's levered to a sector, health care, that just does fine when the economy goes in recession. look, it's a real possibility if we go off the cliff. plus we have a limited supply of medical office space. this is a nice, steady business. let's take a closer look with scott peters. mr. peters, welcome to "mad money." >> thank you for having me. >> i try all the time to find companies that might be beneficiaries of the affordable health care act. i stumbled on you guys. you're the one? >> we think we are. we've been fortunate. health care systems are now running like businesses. with 30 to 40 million more insured coming up, they need the most affordable location to off those services. those are mobs, they're
. >>> with the fiscal cliff approaching, people worry about having to pay a higher tax rate, i get that, but when you can snag high-quality stocks that yield more than 5%, i'm all ears. that's one of the reasons i want to tell you about health care trust of america, a newly minted real estate trust that owns medical office buildings. hga is a very defensive stock. unlike retail reits, it's levered to a sector, health care, that just does fine when the economy goes in recession. look,...
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Dec 5, 2012
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do you believe president obama and the republics will reach budget deal before automatic tax increases are triggered? do you believe that will happen? yes or no. next the factor at this point of the day. a nice christmas gift that will cost you nothing. nothing. the tip 60 seconds away. >> the factor tip of the day. in a moment, a great christmas gift that costs nothing. just a few more days until we have to stop. if you buy any of my three best sellers, i can sign them for you but just until monday because we have so many orders. signed books make unforget i can't believe gifts and they're not expensive so you become a premium member, they're less expensive because you get any one of those books free of charge, your choice. check out mugs and other gear which make folks happy. the mail. bill, please, no more federal gun laws. these are local and state issues. i get a lot of mail like that, james. i disagree with you. the feds have an agency investigating farm violations and the states don't have the resources to support mandatory prison terms and gun toting criminals. the feds should
do you believe president obama and the republics will reach budget deal before automatic tax increases are triggered? do you believe that will happen? yes or no. next the factor at this point of the day. a nice christmas gift that will cost you nothing. nothing. the tip 60 seconds away. >> the factor tip of the day. in a moment, a great christmas gift that costs nothing. just a few more days until we have to stop. if you buy any of my three best sellers, i can sign them for you but just...
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Dec 6, 2012
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these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders
these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff...
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. >> some of it comes from the general fund, there's income taxes and other taxes in the tax code and payroll taxes that create this distinct funding mechanism. >> and some of the money in the general fund comes from the social security trust fund. >> that's right. >> i wanted to get more to the political aspect of it. so maybe popularly people don't want to see 34ed kade -- i'm sorry, medicare touched but the belt way folks, the folks that are going to be voting on this do want to see that. >> yes, would he do. >> what are we going to bring to the table? are we just going to say we're not going to bargain with you? i mean, at what level do we allow for, say, means testing? we may not like it, but that's what it's going to allow. >> means testing, we can do means testing. if you want to do means testing, there's a very efficient way of doing it. we will raise your taxes on -- >> if you have more money. >> the grand bargain. >> the reality is that's not going to happen. >> wait a second. >> that's not going to happen. we can talk about -- look, we can talk about -- >> the reason why th
. >> some of it comes from the general fund, there's income taxes and other taxes in the tax code and payroll taxes that create this distinct funding mechanism. >> and some of the money in the general fund comes from the social security trust fund. >> that's right. >> i wanted to get more to the political aspect of it. so maybe popularly people don't want to see 34ed kade -- i'm sorry, medicare touched but the belt way folks, the folks that are going to be voting on this...
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Dec 7, 2012
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no matter how much you tax the workers. yet, the obama administration and the democratic party continue to put forth that higher taxation will bring the massive government debt under control. perhaps the only democrat telling the truth about this is our old pal howard dean, the uber liberal former governor of vermont. >> the truth is everybody needs to pay more taxes, not just the rich. that's a good start. but we're north going to get out of this deficit problem unless we raise taxes across the board. >> bill: governor dean sympathizes with the socialist philosophy and that's where the government is heading. taking from those who are productive and giving to those who are struggling. or who are working for the massive government apparatus. during this christmas season we all should emulate officer deprimo. that help may be futile. if the federal government doesn't wise up and impose some discipline on the incredible, incredible entitlement spending, america's economy will eventually collapse: president obama needs to invit
no matter how much you tax the workers. yet, the obama administration and the democratic party continue to put forth that higher taxation will bring the massive government debt under control. perhaps the only democrat telling the truth about this is our old pal howard dean, the uber liberal former governor of vermont. >> the truth is everybody needs to pay more taxes, not just the rich. that's a good start. but we're north going to get out of this deficit problem unless we raise taxes...
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Dec 3, 2012
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tonight, getting a handle on where we really stand in the showdown over taxes and spending cuts. and, one of the busiest forces in the world is in los angeles and there's a good chance something in your home once passed through here. now, union workers hitting picket lines, refusing to work until they get what they want. fox reports. the potential economic fallout on the rest of us from a union fighting to survive. and some less than bright criminals caught on tape. they're trying to steal gas from a golf course, but something they didn't plan on keeps them from make ago fast get away. the video you just have to see. i'm harris falkner, tonight, both republicans and democrats digging in deep for what could be a long fight that ends in a self-induced economic calamity. the fiscal cliff now less than a month away. and falling off the cliff could spell trouble in the form of higher taxes, higher unemployment and recession, so analysts tell us. as we approach the edge, a compromise appear object out of reach. and timothy geithner headed up negotiations for the obama administration sa
tonight, getting a handle on where we really stand in the showdown over taxes and spending cuts. and, one of the busiest forces in the world is in los angeles and there's a good chance something in your home once passed through here. now, union workers hitting picket lines, refusing to work until they get what they want. fox reports. the potential economic fallout on the rest of us from a union fighting to survive. and some less than bright criminals caught on tape. they're trying to steal gas...
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there's no real reforms. $1.6 trillion in tax increases and some of the savings are tax increases. >> does that it congressman kohl is having these impure thoughts that he had categorized these thoughts. does that mean that? >> i think what tom cole brought this up in a meeting. you need to talk about a host of ideas. that's a chilling effect on members being able to express within closed doors their own ideas on this. that's the problem with that. there are a lot of strategies in terms of how we get there. i would agree with grover norquist on this. the proposal is a nonstarter with republicans and probably most people who have looked at it. we have to get closer to this. they are both very far apart and holding their ground. that's no way to settle it. >> so all this rang lg about the fiscal cliff isn't the goal. with the president asking for $50 billion in stimulus spending, do you worry they might be losing sight of that? >> the best thing for the country is to go over the fiscal cliff. it maximizing the deficit reduction. there's no deal cut between republicans and democrats. it'
there's no real reforms. $1.6 trillion in tax increases and some of the savings are tax increases. >> does that it congressman kohl is having these impure thoughts that he had categorized these thoughts. does that mean that? >> i think what tom cole brought this up in a meeting. you need to talk about a host of ideas. that's a chilling effect on members being able to express within closed doors their own ideas on this. that's the problem with that. there are a lot of strategies in...
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jackson the small business just picks up and leaves to avoid the unions and taxes. i'm a fan of samuel l. vaction jacuzzi and i will apologize apologize -- jacuzzi and i will apoll jackson. the movie takes place in l.a. >> forgive me for explaining the point. in california they used to shoot most of the movies in los angeles, hollywood. the film capital of the world. but the expenses are so now onerous because of the unions, regulations, environmental, on and on and on, that the movie companies headed mostly by liberal individuals an samuel l. jacuzzi is certainly one of those. shoot everything in canada, all of their principles of labor go flying out the window. california loses all of that revenue that they used to have because of all the craziness. is that the point you were trying to make there, carolla? >> right. it's exactly the point very eloquently made. and, like i said, he is a business. and he moves. other businesses go to texas and they stay there for good. and that's what's happening in-to-california. california, honestly, is like a hot blonde high scho
jackson the small business just picks up and leaves to avoid the unions and taxes. i'm a fan of samuel l. vaction jacuzzi and i will apologize apologize -- jacuzzi and i will apoll jackson. the movie takes place in l.a. >> forgive me for explaining the point. in california they used to shoot most of the movies in los angeles, hollywood. the film capital of the world. but the expenses are so now onerous because of the unions, regulations, environmental, on and on and on, that the movie...
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Dec 1, 2012
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a flat tax will do that. and steve forbes, arthur laugher a number of people are going to be pushing that this week. you will see. that's a fair share. that's what we ought to do. the compromise will be on what we cut. good grief, in the house we cut 11% over the last two years of our own budget. we should be demand and our leadership hasn't done it yet. 11% cut across the board throughout the government. this president is not even talking about it. he is talking about increasing spending. >> do you like the president's -- i'm curious your take on the president's populist argument right now. is he out there on the campaign trail again trying to sell this to the american people. >> that's what he does do. is he campaigner in chief. that's what he does well. >> isn't he looking at those polls showing that the republicans have been beaten down. the polls show if this happens most of the american people would blame the republicans. >> but he has been so abusive as of yesterday. so arrogant in what his demands are
a flat tax will do that. and steve forbes, arthur laugher a number of people are going to be pushing that this week. you will see. that's a fair share. that's what we ought to do. the compromise will be on what we cut. good grief, in the house we cut 11% over the last two years of our own budget. we should be demand and our leadership hasn't done it yet. 11% cut across the board throughout the government. this president is not even talking about it. he is talking about increasing spending....
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Dec 5, 2012
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doing a tax cut. give them a big giveaway. the reality, the reality is, the reality the prime minister couldn't get away from, the deficit is going up, not down, on his watch. we all remember the posters which is airbrushed, i will cut the deficit, not the nhs. the facts speak for themselves. he cut the nhs and is not cutting the deficit. >> we are increasing spending on the nhs and we are cutting the deficit. we have cut the deficit by 25%. there are a million more private sector jobs. businesses are starting at higher rate than any time in our history. this economy is on the right track. we are equipping britain for the global race and on like the party opposite we are in the side of people who work hard and want to do the right thing. what is the answer? more borrowing, more spending, more of the things that got us into this mess in the first place. >> mr. speaker, years ago the nhs spent five hundred million pounds on tamiflu without seeing the day on the effectiveness or safety and rather than be
doing a tax cut. give them a big giveaway. the reality, the reality is, the reality the prime minister couldn't get away from, the deficit is going up, not down, on his watch. we all remember the posters which is airbrushed, i will cut the deficit, not the nhs. the facts speak for themselves. he cut the nhs and is not cutting the deficit. >> we are increasing spending on the nhs and we are cutting the deficit. we have cut the deficit by 25%. there are a million more private sector jobs....
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Dec 7, 2012
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we don't want to pay higher taxes, but are willing to pay higher taxes as a program of shared sacrifice, which we think would make sense under the circumstances. >> eliot: and you also reject the premise of the entire republican argument, which is if you raise these tax rates margin ally on the so-called job creators somehow that will harm our economy. >> that's utterly ridiculous. first it's false imperically. we want through the analysis with bruce bartlett, who articulated them very well. as buffet pointed out in his op-ed piece taxes went up from 2000 when clinton was in and the second part of the reagan administration because of the imbalances created by the reagan tax cuts and we created 23 million jobs. by the same token, you know, the tax cuts to the wealthy were extended a number of times including by president obama under duress and starting in 2009 that create add boom in financial assets, but didn't produce many jobs. those are just anecdotal situations, but you can see there have been studies done including most recent one, which was suppressed by the republicans. >> eliot:
we don't want to pay higher taxes, but are willing to pay higher taxes as a program of shared sacrifice, which we think would make sense under the circumstances. >> eliot: and you also reject the premise of the entire republican argument, which is if you raise these tax rates margin ally on the so-called job creators somehow that will harm our economy. >> that's utterly ridiculous. first it's false imperically. we want through the analysis with bruce bartlett, who articulated them...
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Dec 2, 2012
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employees went to the budget forrum to hear what happens next now at this voter have voted to raise taxes to support public education. among in attendance was a third year seoul sociology student. he seek what is most students want. more classes. he addressed panel which included the university president and vice president. he asked if the extra funds from pop 30 will give student what is they need most. >> 27 million-dollar deft deaf sit which is probably going lead to more class cuts, more sections being cut which will further impede students from garage weight on time. >> the president took time to answer many questions. but when asked about classes being safed he couldn't geoff a tentative answer. >> hope i will that means there will be more resources and we can hire more. >> the carrera cher this is a hope. >> the reality is he's probably going to be forced to cut more classes because he's not going -- not going to cut any administrative blow or any administration where i believe is one of the main thing this is a should be cut. >> on the subject of measure d which wages minimum twin
employees went to the budget forrum to hear what happens next now at this voter have voted to raise taxes to support public education. among in attendance was a third year seoul sociology student. he seek what is most students want. more classes. he addressed panel which included the university president and vice president. he asked if the extra funds from pop 30 will give student what is they need most. >> 27 million-dollar deft deaf sit which is probably going lead to more class cuts,...
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but it has no tax increases. if it raises revenue through closing tax loopholes and deductions. the white house immediately rejected the republicans' proposal. the president is saying that he would not accept a proposal without a tax increase for wealthier americans. >> the senate has approved president obama stores to be the top commander in afghanistan. lawmakers cleared the way for general joseph dunford, the assistant commanding of the marine corp's, to take over as head of the u.s. coalition forces in afghanistan. done for what replaced general john allen, the current commander who has been -- >> let's take a live look outside and mount cam. we have some salts and on the horizon we do have some rain that is headed our way and we will have details coming up in a bit. the study as today shows the number of terrorist attacks every year has more than quadrupled in the decade since september 11, 2001. the number of annual deaths peak in 2007 during the height of the iraq conflict. it has been falling ever since. this survey reports more than 7000 deaths since 2011, that is 25 pe
but it has no tax increases. if it raises revenue through closing tax loopholes and deductions. the white house immediately rejected the republicans' proposal. the president is saying that he would not accept a proposal without a tax increase for wealthier americans. >> the senate has approved president obama stores to be the top commander in afghanistan. lawmakers cleared the way for general joseph dunford, the assistant commanding of the marine corp's, to take over as head of the u.s....